Denver retail space vacancy falls to 7.3%

Denver retail space

Denver retail space vacancy rate falls to 7.3 from 8% a year ago. Average lease rates remained flat at $15.39 per square foot, down from $15.86 2Q 2012. Because of Denver’s strong real estate market, the retail sub-market will continue to improve, especially in the quick service restaurant and home goods stores.  A total of 193,000 square feet was absorbed 1Q of 2013, up from previous quarter and year-over year. Colorado Boulevard/Cherry Creek continues to have some of the lowest vacancy rates which stood at 3.4% and average asking rates at $20.86 per square foot. Northeast sub-market had the highest vacancy rate at 11.5% and asking rates at $13.44.

Retail Space for Lease Denver, Colorado

Denver Retail Space for Lease in Colorado

Perfect solutions for retail space. Urban Realty provides tenants and landlords with unparalleled service and attention to details large and small. Whether it’s for new leases or renewals, expansions, relocations, sublease or renegotiations, Urban Realty has the professional expertise, transaction knowledge to assist tenants and landlords and delivering innovative solutions.

Tenant Representation. Focusing on your needs, Urban Realty understands that tenants requirements for Denver retail space involves many facets such as tenant’s business financial and operation goals. Urban Realty looks beyond rental rates, market conditions and collaborates with tenant to achieve best possible short and long term    solutions.

Our services Include:

  • Methodically analyze tenant’s space requirements.
  • Incorporate tenant’s business objectives and strategies in order to formulate the ideal real estate solution.
  • Applying in-depth knowledge and research of demographics, sales activity and trade area to identify locations that’s ideal to your business and customer base.
  • Collaborate with tenant to achieve a thorough understanding of local competitions, business performance and penetration.
  • Evaluate alternative options to leasing such as acquisition or build-to suit.
  • Researching and evaluating beyond rental rates to ensure any facility meets your timing and infrastructure needs.
  • Negotiate lease terms to protect tenant’s financial interests and minimize tenant’s exposure.

Landlord Representation. With our knowledge of the Denver retail market, we understand of how to strategically position a property in the marketplace to attract and retain quality tenants to ensure a successful lease. We have a thorough understanding of the transactional process, lease agreements, tenant improvements and concessions. We have an established relationship within the industry and brokerage community which provides landlords a competitive advantage and an understanding of current market and future trends.

Our services Include:

  • Methodically analyze tenant mix and building features.
  • Identifying local demographics and traffic patterns.
  • Develop a strategic plan and analyzing pricing options.
  • Create comprehensive marketing and leasing plan.
  • Manage all details to ensure affective marketing.
  • Promote and market through our relationships with other leasing agents and brokers.
  • Expose and attract quality tenants to property.
  • Negotiate lease terms to protect landlord’s financial interests and minimize landlord’s exposure.
  • Maintain existing tenants and ensure retention.

If you have any questions about leasing or purchasing Retail Space in the Denver area, please contact the experienced commercial real estate brokers at Urban Realty.